The Luxury Ball (Japanese: ゴージャスボールGorgeous Ball) is used for catching Pokémon and is the fanciest of PokéBalls made so far, along with it being the most expensive of them all. It is designed for luxury as its name suggests. While it is the same as a normal Poké Ball in terms of success rates in general, a Pokémon caught in this ball will form a bond with its trainer more quickly. It is almost entirely black with a gold band around the middle as well as a gold button, and carries rings of red on both halves which themselves are flanked by rings of gold.

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Trivia

Due to the Luxury Balls high cost and reputation as being more comfortable than other Pokeballs, it was likely originally designed for celebrites, the very rich, and wealthy Trainers.

It fuction is similiar to the Friend Ball, as both effect the friendship of the captured Pokemon. Also like the Friend Ball, the Luxury Ball is useful in evolving Pokemon who require high friendship in order to evolve.

Due to its similiarity to the Friend Ball, it's possible that the Luxury Ball was originally designed as an easier to produce alternative to the Friend Ball (which requires Green Apricorns in order to make them).